Groupe Aeroplan said it would expect to see a decline of about 4 percent in consolidated gross billings for the full year 2009. Earlier, it had expected a 2 percent to 4 percent decline in gross billings.

The company also expects the average cost of rewards per mile redeemed, under the aeroplan program, to remain in the low nineties for the remainder of the year and not to exceed 95 Canadian cents on an annual basis throughout 2010.

For the quarter ended Sept. 30, the loyalty program operator posted net earnings of C$18.8 million ($17.87 million), or 9 Canadian cents a share, down from C$35.0 million, or 18 Canadian cents a share, last year.

Excluding items, the company earned C$45.4 million, or 23 Canadian cents a share.